BRUSSELS, May 14 (Xinhua) -- The Council of the European Union (EU) on Monday adopted a directive strengthening EU rules to prevent money laundering and terrorist financing.
The adopted directive is an amendment of directive 2015/849 and is part of an action plan launched after a spate of terrorist attacks in Europe in 2016.
"These new rules respond to the need for increased security in Europe by further removing the means available to terrorists," said Vladislav Goranov, minister for finance of Bulgaria, which currently holds the Council's presidency.
"They will enable us to disrupt criminal networks without compromising fundamental rights and economic freedoms," Goranov said.
The main changes to directive 2015/849 involve broadening access to information on beneficial ownership, improving transparency in the ownership of companies and trusts.
It also concludes addressing risks linked to prepaid cards and virtual currencies, cooperation between financial intelligence units and improved checks on transactions involving high-risk third countries.
